The morning news. [volume] (Savannah, Ga.) 1887-1900, 1887-09-20
HOW TO GET RICH.
Gen. B. F. Butler to Young Men Who
Would be Thrifty.
The Boston Herald prints the following
letter from Gen. Benjamin f. Butler:
BosroN, MASS, Aug. a6, 1888


letter from Gen. Benjamin F. Butler
BosToN, MASS, Aug. rs, 1887
DEAR SIR; have received your note asking
me to write some practical hints for young men
on the requirement of wealth, which may be
published
A difficult task is set me- as the circumstances
under which young men commence life are so
widely varied. But l think that more young
or receive than in any other way TO acquire
property. The temptations TO speculate are so
great, and the desire to become suddenly rich
so strong that believe eight out of ten, if not
more, of young men are wrecked at the very
beginning:
If young man is earning something more
than the expense of his living, and has no OBJ
ject in view he is likely either to increase those
expenses careleSsly, or to loan his money to his
friends, aud in so doing in the majority of cases
he will lose both friends and money, so that the
best thing that he can do is to have an object,
TO gather up his money, and to have a call for it
which shall be profitable one. He makes no
investment because he says; Il have got so lit
tie money that it won't come to anything, | will
wait until get more" and in waiting, gener-
ally, what ne has goes.
When young man has a very little money
let him buy some property, preferably piece,
however small, according to his means, OF i'm
proved real estate thdt IL paying rent He had
better buy it when sold at auction, under
judicial sale, paying in cash what he can, giving
his notes for the balance in small sums coming
due at frequently recurring intervals, secured
his extra income in paying up those notes 1t
is always safe to discount your own note, and if
the notes come q little too fast as soon as he
gets anything paid his friends will aid him when
he is putting his money where il cannot be lost,
and where the property is taking care of the
interest, and in very short time he will find
that he has got very considerable investment.
He will become interested In it, save
his money to meet his notes, and he will
directly come into considerable
possession of property, and hardly know
n i'm fG ha Nrsll
have had motive for saving, and win get the
result of that saving, and will not be tempted to
enter into speculations. Nothing is so safe for
an investment as improved real estate. Nothing
is likely to grow in value faster In the last
fifty years 90 per cent. of all the merchants and
traders in Boston have failed. In the last fifty
years 80 per cent. of all the business corpora
tons have failed or gone out of business, so that
their stock has been wiped out. In the last fifty
years all the improved real estate on the aver
age has paid its interest and taxes and
quadruped in value II a young mans father
can give him anything to start him in the world
he had better invest it in that way and let il ac-
cumulate and earn his lviug, and he will be
richer than if he had gone into business Jay
Gould is said to have started from mouse trap
seller to become a millionaire. Assuming that
to be true, he is only one of $1,000 900 of people,
and if any young man thinks that he is goingto
initiate Jay Gould there are $1,000 900 chances TO
one that he won't succeed.
The rule would lay down for a young man is
never do q mean thing for money. Be prudent
and saving of your money. Be careful to have
no interest account running against you unless
you have an equal greater interest account
running in your favor. Work diligently and
you are sure Of q competency in your old age,
and as early as possible, if you can. find
saving prudent girl who has been brought up
by mother who knows how to take care of a
house, and make a wife Of her. she will aid and
not hinder you.
claim no originality in this advice, and will
relate you an incident in my own experience to
Illustrate 1t: In my earliest pr actice in my pro
fesSion was quite successful in earning money,
and had small balance in the Lowell Bank
at the head of which was MIR. James G.. Carney
The bank was directly across the hall from my
Office. stepped into the bank to deposit a little
money on one OCCASION, and Mr. Carney said TO
me: why don't you invest your money! I'm
vest. said |; y have nothing to invest" ''Oh,
yes, he says, you have quite a little sum OF
money, and 1 see that your young friends
come with your checks occasionally, evil
IDENTIFY borrowing it. Now, you had better in
vest IT," How can | invest it, Invest it in
real estate Il know nothing about real
estate" go to the first auction and buy the
property. You cannot be much cheated in that
because you viii have TO give very little more
than somebody else will be willing to pay for it.
Give your notes for it, save your money, collect
your fees, pay our notes as they become due.
See that the property s improved property, so
that the rent VIII keep down your interest &C
count, and when you get any other money in
vest it in the same way, and if your notes press
upon you little faster than you can pay them,
why, we will, when find that is what you are
doing with your money, discount your note and
give you Il little more time, so that you can pay
it up. This viii hecesstate the prompt collection
of your bills, for know that you would rather
work and earn 500 than dun a man for it, UNI
less you have a pressing need for it. You have
not even asked for a little bill that we owe you
in the bank, which shows me that YOU do not
promptly collect your dues. y | followed the
advice and bought number of pieces of prop
erty in that manner, aud l never did exactly
know how they were paid for, but they were,
and in O few years owned some twenty differ
me in that way. ] can only say that / wish |
had been wise enough to have continued this
course through life.
do not think that need to extend these sug-
gestions any further, because If young man
won't mind these he won't any others, and can
not suggest any better ones | am yours truly,
BENJAMIN F. BUTLER.